Hatom Lending
Rejected venues wait the longest for re-review; a rejection has to earn another look before the scheduled date.
Hatom is a lending and borrowing market on MultiversX. It held about $4.9M in TVL across ten pools at the 2026-08-14 survey, under the $100M floor a protocol must clear before advised client money can enter and exit without moving its markets. It would also need MultiversX to pass chain-level review, which has not happened. Rejected on size: an advised book of $1M to $8M from one practice becomes the exit crush at this scale, whatever the protocol’s quality.
- TVL sustained above $100M for 30 days
The research file
Applicability to the surveyed record
Hatom documents a non-custodial MultiversX lending protocol where suppliers fund asset-specific money markets, receive interest-bearing HTokens, and borrowers take overcollateralized loans subject to collateral factors, caps, interest accrual, and liquidation. This establishes the surveyed pooled-lending mechanism.
Current observation and perimeter
The DefiLlama protocol API read on 2026-08-15 classified Hatom Lending as Lending, used its legacy Elrond label for the MultiversX deployment, and showed approximately $4.87M TVL with about $1.60M borrowed. Primary network documentation identifies the live controller and markets on MultiversX; size remains far below the shared v1 $100M threshold.
Control and exit applicability
Governance controls supply and borrow caps, while risk parameters, price inputs, automated liquidators, and guardian protections govern solvency. A supplier burns HTokens to withdraw accrued underlying with no cooldown, but only if the position is not required as collateral and sufficient pool cash is available; depleted liquidity requires waiting for repayment or new supply.
Why the class rule decides
The shared v1 below-materiality dossier controls because Hatom Lending remains under $100M even though its active MultiversX mechanics are documented. Reopen after DefiLlama TVL remains above $100M for 30 consecutive days, then review market-level liquidity and utilization, governance and admin control, collateral and cap parameters, oracle construction, liquidation operations, MultiversX chain disposition, audits and incidents, executable withdrawals, stressed exit, and named lending alternatives.
Sources
The claims above trace to these. Where a number could not be independently verified, the thesis says so.
- Hatom — lending protocol · primary · accessed 2026-08-15
Supports: MultiversX lending, suppliers, borrowers, overcollateralization, governance caps - Hatom — fundamental lending functions · primary · accessed 2026-08-15
Supports: HTokens, interest accrual, collateral, liquidation, withdrawal liquidity - Hatom — MultiversX markets · primary · accessed 2026-08-15
Supports: MultiversX deployment, controller contract, market contracts, supported assets - Hatom — liquidation · primary · accessed 2026-08-15
Supports: liquidation threshold, close factor, liquidator bots, penalty - DefiLlama — Hatom Lending survey record · secondary · accessed 2026-08-15
Supports: current TVL, borrowed amount, Elrond survey label, Lending category
Inherited controls
The verdict above grades the protocol layer. Every position also inherits the asset it holds and the chain it settles on. The least safe layer sets the position’s grade, and the position table names which one that is.
| Chain | Verdict | Grade | Control constraint |
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